US stock futures rose Monday morning as Wall Street headed into a holiday-shortened trading week, with investors bracing for fresh economic data amid lingering consumer uncertainty.

Contracts linked to the S&P 500 (ES=F) gained 0.5%. Those linked to the Dow Jones Industrial Average (YM=F) edged higher by 0.5%, while Nasdaq 100 futures (NQ=F) rose 0.4%, after the indexes closed out last week on a sour note and the Dow joined the Nasdaq in correction territory.

Oil prices climbed on Monday after President Trump told the Financial Times that his preference would be for the US to control the oil industry in Iran “indefinitely.” Brent (BZ=F) rose 2% to $107 a barrel, and West Texas Intermediate (CL=F) followed, gaining nearly 2% to trade above the $100 mark.

Trump told reporters on Air Force One on Sunday that Iran “gave” the US most of the 15 demands it issued to Tehran to end the war.

Attention this week is dialed in to results from several labor market indicators, including the Job Openings and Labor Turnover Survey (JOLTS) and the ADP private payrolls report. The March jobs report is also due, even as markets will be closed Friday for the Good Friday holiday, and it will take on heightened significance as investors seek balance after the January-February whipsaw in job numbers.

On the corporate front, earnings from Nike (NKE) may provide insight into consumer trends, while USA Rare Earth (USAR) and Trilogy Metals (TMQ) will offer a health check on the minerals industry.

Iran's strikes on aluminum plants in the United Arab Emirates (UAE) and Bahrain over the weekend pushed aluminum prices higher on Monday morning, as the industry braced for supply constraints.

The Middle East supplies around 9% of the world's aluminum, which is used in automobiles, construction, and packaging, among other uses. On Saturday, two of the region's top suppliers said they sustained damage to their facilities. Aluminum futures jumped over 4% to trade at $3,341.

Since the war in the Middle East began, aluminum prices have reached their highest levels since 2022, as the Strait of Hormuz closure has restricted exports to the US and Europe.

Shares of aluminum smelters also surged on the expectation of higher prices on Monday. Shares of US-based Alcoa (AA) and Century Aluminum (CENX) rose 9% in premarket trading.

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Aluminium maker Alcoa (AA) stock rose 8% before the bell on Monday after news broke that two Middle East aluminium makers had been hit by Iranian attacks, raising concerns about supply disruptions.

BJ's (BJ) stock fell 10% before the bell as investor sentiment soured due to reports of sluggish mid-year consumer spending.

Leidos (LDOS) shares rose 6% during premarket hours today. A recent 13F filing revealed that UBS Group has reduced its stake in the company, selling 58,303 shares and holding 533,824 shares valued at about $96,301,860.

Strategy (MSTR) stock edged higher by 2% following bitcoins rise to $67,000. Strategy is one of the largest corporate holders of the cryptocurrency.

Bloomberg News reports:

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